Here we go again. Don’t they ever learn?
Obama opening up the floodgates for 2016.
Probably, but from the article this move isn't the one that will do it. They seem to be insisting on fairly strict credit score and income requirements for the 3% down mortgages. The thing that will create another spate of junk mortgages being issued and another bust when they aren't repaid will be when some future 'Rat controlled Congress or 'Rat administration looks at the program and decides that not enough "people of color" are qualifying for 3% down mortgages and forces the stricter credit conditions be dropped to remediate the "disparate impact".
Don't they ever learn?
No.
Oh, it’s really worse than you think.
The new regs are pretty much the epitome of Isaiah 5:20...
Those with good credit (800+) are subject to regulations that prevent them from getting loans on investment properties,
while those with 600 credit ratings get approved at 97% LTV.